Normally, banks give 85 per cent-90 per cent of the total cost of the vehicle. The rest will need to be provided upfront as a down payment. Always opt for a higher down payment and look to save on total interest costs.
The booking amount is the amount paid to the dealer to book the car you are interested in. This amount can range anywhere between Rs 3,000 to Rs 10,000.
However, if you are planning to buy Tata Nano and is NOT interested in taking a loan, then the booking amount is actually the complete cost of the car.
However, if you are interested in taking a loan, then, you need to pay only Rs 2,850 as the booking amount, and the rest can be availed of from any of the partner banks of the Tatas.
Also read: Ambani case: Corporate rivalry ruled out
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